Top News:
- Delphi wins appeal with IRS, can be considered British company – Automotive News: Delphi Automotive has won an appeal with the U.S. Internal Revenue Service and can be considered a British company, the automotive supplier said in a filing with U.S. securities regulators today.
- VW management accepts bonus cuts of at least 30 percent: source – Reuters: Volkswagen’s top management board has agreed to a cut of at least 30 percent in bonus payments, one person familiar with the matter said, as the carmaker tries to resolve a dispute over executive compensation.
- Porsche sales set company Q1 record – Just-auto: Porsche said first quarter 2016 sales set a company record with 55,974 new vehicles delivered worldwide, a rise of 10% year on year.
- Taking Out a Car Loan? Bank of England Officials Are Watching – Bloomberg: First mortgages, then credit cards, now automobiles – the Bank of England is keeping an eye on every type of debt being taken on by Britons, and car…
- US retail sales fall, hurt by weak auto sales – Reuters: Economists polled by Reuters had forecast retail sales edging up 0.1 … Last month, auto sales dropped 2.1 percent, the largest decrease in just over a …
- Chinese gaming firm plans electric crossover – Just-auto: The report said that by investing in cars, Youzu is pre-empting a future in … to do other things,” Chen Fan, Youzu’s investment director, told Bloomberg. … The report said that Youzu is aiming to sell a car under its partner’s brand that…
- Toyota Touts Fuel Cell as Zero Emission Answer – Detroit Bureau: Toyota claims that hydrogen fuel cells remain the top alternative for use in large vehicles, such as heavy duty trucks, with zero emissions. Go to TheDetroitBureau.com for more.
- Nissan, Ford, Volkswagen, General Motors exports from India more than domestic sales in FY16 – Ibtimes: The Indian arms of global vehicle manufacturers such as Nissan, Ford, Volkswagen and General Motors exported more cars than they sold in the…
- Autocar Awards to celebrate five-star cars and industry innovators – Autocar: Autocar will be honouring the best that the car industry has to offer at this year’s awards on 24 May at Silverstone
- Lexus sells millionth hybrid – Just-auto: Lexus announced it had sold over amillion hybrid vehicles since launching the RX400h SUV in 2005.
- Volkswagen Payout Is a Family Affair – Bloomberg: Not Volkswagen, which according to Handelsblatt is expected to pay at least a token sum at this year’s annual meeting. It may seem counter-intuitive,…
- Justice Official Warns Carmakers about Terrorist Hacking Threat – Detroit Bureau: Carmakers have to be ever more alert to the threat from outside hackers and even terrorists warns top Justice lawyer. For details, go to TheDetroitBureau.com.
- GM recycles water bottles for Chevy Equinox part – Just-auto: General Motors is turning its employees’ recycled water bottles into a fabric insulation that covers the Chevrolet Equinox engine. The bottles – collected from five of its Michigan facilities – are also being turned into air filtration components and insulation in coats for the homeless community.
- VW executives to accept ‘significant’ bonus cuts to quell unrest – Automotive News: Volkswagen Group Chairman Hans Dieter Poetsch and other top executives are in talks about significant bonus cuts to…
- China sales rise by 8.8% in March, over 6% YTD – Just-auto: New vehicle sales in China rose by 8.8% to 2.44m units in March, from 2.24 units a year earlier, driven by strong demand for SUVs and MPVs – according to data released by the China Association of Automobile Manufacturers.
- Uber, Ola Open New Rickshaw Battlefront in Smaller Indian Cities – Bloomberg: Ola and Uber Technologies Inc. are squaring off across yet another battlefront: three-wheeled auto-rickshaws in India’s poorer second-tier cities.
- Ford Just Opened Applications for Its New Supercar – Fortune: Ford Motor Company officially opened the application process Wednesday for anyone (with deep pockets) interested in purchasing the Ford GT…
- Czech police officer faces drink-drive charge after smashing 51 cars – Reuters: A Czech police officer faces charges of driving while drunk and smashing at least 51 cars parked on a street in Prague, a police …
- Renault Kwid’s CMF-A platform based MPV, compact sedan and compact SUV coming by 2018 – Ibtimes: Buoyed by the success of the Kwid hatchback, Renault India is developing an MPV model, compact sedan and a compact SUV based on the CMF-A…
- Lower Saxony welcomes VW chairman’s move to accept bonus cut – Reuters: People familiar with the matter had told Reuters on Tuesday that Volkswagen’s …